Euro 2020 financial boost weakened by the pandemic for host cities

Football tournaments like the European Championships usually mean a financial windfall for organizers, merchandisers, and the hospitality industry. All can expect a hefty boost to their coffers when the Euros are in town.

It has been reported the previous tournament in France in 2016 generated 1.5 billion dollars for the French economy.

But Euro 2020 is a very different tournament. Firstly, there’s no single host. Seville, Spain was one of 11 venues in Europe awarded hosting rights, meaning any potential financial dividend would be diluted.

Plus, Euro 2020 is a tournament being held during a pandemic, resulting in restrictions both on the movement of fans and the numbers allowed to watch the game in the stadiums.

But European football’s governing body did insist some fans be allowed into venues. It made for a better visual spectacle, which kept the TV companies happy and it was also good news for the 11 host cities.

Source: https://newseu.cgtn.com/news/2021-07-07/Euro-2020-financial-boost-weakened-by-the-pandemic-for-host-cities-11GAOEYhjKo/index.html

Leave a comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.